Silver BananaTopicReplies
+4
Buy Side Newbie

valueboy

Hi everyone. I'm a couple months (associate level) in at a boutique shop working directly under a PM(...

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Fixed Income vs Equity Research

researchsibil

Hi everyone, I have a full-time offer for equity research and one for fixed income research within the specialized products group both at JPM. I am quite unsure about what I want to do long-term, and I do not think I want to stay at a bank for most of my career. In which role would I learn more hard...

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Low GPA - Non Target - Landed a research gig - Help

billystern

Bit of background for context: Experience/Quals -Went to a non-target in AUS (Non Go8) - Low GPA - PWM experience - Ops experience Me -ENTP/ENTJ -Solid writing skills with a serious knack for compiling well written pieces -Consistent curiosity and thirst for knowledge (strong avoidance of complace...

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What is the definition of "Mean Annual Return" in Yahoo Finance?

leveragedlemur

What is the definition for "Mean Annual Return" in Yahoo Finance? The words lead me to believe it's an arithmetic mean of annual returns over a period (e.g. 3Y). But the values just don't make any sense to me. Taking VOO as an example, it says the 3Y Mean Annual Return is 0.88. This value isn't de...

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Bloomberg Intelligence...any info?

DosTorosLegend

Hi All, currently looking into a role as an Equity Research Associate at Bloomberg Intelligence. -Is the experience comparable to typical sell side research associate? i.e. industry research, modelling, meeting with management teams etc. -Has anyone actually the read the research they produce, what...

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Looking for Healthcare, Pharma, or Biotech Industry Primers

josephfcunningham

I am looking for some healthcare/pharma/biotech primers, primarily from BBs. PM me please if you have any primers. All help is appreciated....

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Equity Research sell side: how do you think the buyside should do better to interact with you?

monkey_brood

going to be starting in equity research at a mutual fund. i'll be be covering companies and so wanted to ask the wso community (specifically those working on the sell side) what are the characteristics of buyside analysts that you like to work the most with? what is your ideal relationship with buys...

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Interview at Third Bridge

Vukdedaj

Hi fellow chimps, I've finally managed to claw my way to earning a jr research analyst interview from the depths of operational roles. Third bridge is the firms name and I'm trying to know what to expect and what to have ready. Do i need a stock pitch at the ready? Has anyone here interviewed/worke...

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3 statement dynamic model with projections template

arya180

Hi Guys, I am in third round equity research interviews and have to put together a 3 statement, dynamic, financial model that is capable of doing not only historicals obviously but projections. Problem is, my group never uses these type of models. Does anyone have a template they could pm me (or i...

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How to Forecast operating profit margin for service companies?

Shokhrukh_96

How can we forecast segment operating profit margin for service companies which have multiple segments? Is there any way to forecast using historical operating margins? For example, if need to forecast operating margin for 4th quarter, is it okay if i calculate it by averaging operating profit margi...

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The Joyous Process of Hiring

ThrowADart

This is more so letting me vent, so bare with me here. I've begun the process of hiring a few new analysts, and it amazes me that the job postings spell out VERY SPECIFIC base requirements and people just ignore this. Now, I'm not talking about "minimum 5 years experience" and the person has 4, no...

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CFA Level III Study Prep

saw23

Hey monkeys, The time is coming up quickly. The CFA exam is in 6 weeks. Does anybody have any advice in regard to studying for the multiple choice portion of the CFA Level III exam? The CFA Institute doesn't seem to post the afternoon (multiple choice) portion of past exams. How are you guys studyi...

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The right time to lateral?

CeilingAvenue

**BACKGROUND:** I have been at a Credit Rating Agency (Moody's, S&P, Fitch, etc.) for four months. I started straight out of undergrad as an Associate Analyst (comparable to an analyst in IB or associate in ER). I graduated from a small non-target with a 3.9 GPA, Economics and Poli Sci double major,...

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Modelling Template for Interview

mets15

Hi guys, does anyone have a simple financial statement modeling template they can share for interview practice? Thank you so much....

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Final round interview next week. Tips please!

dante_27

Hello everyone, Any insights on the type of questions and assessments (technical) would be greatly appreciated! This is my first time interviewing with PMs so I want to make sure I cover all my bases and more importantly, know what not to say/do to blunder myself. I was already inquired about techn...

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Life Insurance Company Excel Model

ganeshdn

I am trying to build Life Insurance Company excel model. It would be very helpful if some one can give me an example excel model of life insurance company. Please suggest any website from where i can download the model....

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Assignment help Online

Michael-Jones12

Students could often find it tough to write their academic tasks. It could lead to they not getting desired grades in the academics. Opting for our [Assignment Help online](https://www.allassignmenthelp.com/) could be ideal for such students and they can get a complete assignment solution from us....

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1st Year Equity Research Analyst BB London - AMA

otupygak

Hey guys, Long time lurker here, thought I would give back and add some value to WSO after learning a lot from here during the last few years. As the title states 1st year analyst (nearly 2) , have gone through the whole progression system; Spring > Summer > Grad position. I'm happy to answer an...

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Equity Research in the 90s

newster

Hello, how come Equity Research is not anymore one of the best jobs on the Street like it was in the 90s early 2000?...

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Independent Sell-Side ER Exit Opportunities

phil ayshio

What are the potential exit opportunities for a sell-side equity research analyst at a large independent shop that primarily sells into wirehouses, e.g. Morningstar? Is this kind of experience, wherein you have your own coverage, respected by banks or anyone on the buy-side? I, too, have traditional...

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Global Investment Research at GS (Insight on superday)

215_1

I was just wondering what a superday for GIR will be like. More importantly how much of valuations will I have to know? Additionally any other insight would also be helpful. ...

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+1
How should I network for full time 2019 when I have a 2018 summer internship?

axiaskepsi

Hi all, I am looking for some advice regarding a situation I am in. I recently got a BB internship in Equity Research for the summer of 2018 (my dream internship) and I am excited for it. At the same time, I still want to expand my network at other firms just in case full-time recruiting is neces...

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+1
Investment Analyst vs FI (Real Estate) Analyst for Port Mgr Career

Danny-Ortiz

I have 5 years of experience as an Equity Research Analyst with a F500 IM firm. I am looking at 2 new offers, 1 in a 3 year Investment Analyst program with a large AM firm and 1 as an Analyst with one of the 10 largest Real Estate investment firms in the US. Real estate firm pays more to start, the ...

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Help: specializing in O&G

Mamypokozang

Hi All, I am a generalist, but have recently been assigned as an OO&G specialist. As i have no prior experience in this industry, I was wondering if any of you could point me to resources that would: 1. Help kickstart my baby steps in this industry (maybe value chain wise, technicals/fundamental k...

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Need help with SS Report

klimaz308

Hey guys, In need of some sell-side notes on a Financial Services stock I currently work on for a job interview - would really appreciate if someone could help out. Thanks all....

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Perks of equity research

17lowee

I was wondering what perks are associated with sell-side equity research at different levels. What can be expected in the first few years if anything, and what do senior analysts get? Assuming this is at a bulge bracket bank. ...

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First Interview ER Jefferies

davidgf

Hi all, I have a first interview at Jefferies ER, this is my first one, what kind of basic questions i have to expect for this type of job? Moreover, could you tell me why ER instead of IB? What about the compensation for a Research associate 1st year in a bank like Jefferies ? Thank you a lot, ...

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Purple Innovations

Monkey_Bubbles

Can someone please help me find the Purple Innovations equity research report by Wedbush..........? ...

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Trading to Equity Research

Phizzurp

I've recently been contemplating making a transition from my current role, Junior FI Trader, to an ER role. Has anyone here made a similar transition, or have any tips on how to do so? I'm still young and I know my passion lies within extensive research. I am taking level 1 of CFA next December and ...

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Need some advice on switching from prop trading (4 years) to equity research

TradingJoeGroup

I graduated from a respected undergrad with a Finance degree and took a job as a prop equity trader with a goal of learning as much as I can to make myself a successful trader and investor. I traded at two different trading firms for about the last 4 years and realized that day trading’s profitabi...

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Final Round with Research Management

Deter6895

Hi Everyone, I have a final round with research management at a BB coming up. Does anyone have any experience with what to expect? What exactly is research management? In a final round I would expect they just want to hear your story and give you sniff test to see if anything stinks on you but I'm j...

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+1
WACC and CASH

jadkabbara

Hey guys Would anyone be able to clarify if I should subtract cash from MV equity while calculating WACC and why ? And WACC is based on Market value of the company`s component. In this case, regarding the debt value, should I use its book value and if not how do I get the Market Value of debt. Th...

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+5
You get yelled by your analyst?

mark1986xy

I got that a few times a week particularly when he is under huge pressure or in a bad mood, that sucks. I even heard he made his previous associate cry couple times. How about you guys? ...

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Equity Research Associate Salary? - Canada

prokofiev

Hi everyone, I was going through the forum threads looking for research associate salaries specific to Canada, but didn't seem to find anything that wasn't dated or too general (not firm specific). I like to think that I have a pretty good idea of what the average base and bonus are for a first ye...

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Gaming/casino sector

charlie the unicorn

What are the usual drivers for the gaming industry in Macau and Asia in general? And what are the typical financial metrics most often used by analysts to compare between different casinos? It seems like a lot has to do with macro factors. Would appreciate if someone could help me figure out what I ...

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Equity Research opportunies in Canada for new immigrant?

Antellee

I plan to move to Canada in July as a new permanent resident The brief of my background is as following: 3.5+ year buy-side equity research experience in Chinese market,; 1y experience in big 4 accounting firm; Master's degree in Finance from Oxbridge; CFA Charterholder; Speaking Mandarin, Japanese...

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Excel Modeling Test for Interview

IronCondorGorilla

So, I just had a second round interview for a research associate role and then was given a modeling test. I was told to fix three errors in the forecasting period of the IS. At first glance I see four errors in the forecasting periods for Gross Profit as it does not incorporate all 4Qs in FY 2016....

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Modeling in Cash Plug with Existing Revolver

wcc293

Hi All, I posted this in the IB Forum, but also wanted to try here- I'm currently building a model for a case study and have gone the route of using a cash plug on the balance sheet. However, the company I am modeling out has the following cap struc: a 900m revolver; a TLB; cash pay notes; and PIK...

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BB vs MM research role in Post-MIFID Environment

arthuring

Hi Everyone, Wanted to get insight on which one was a better move for an ER associate, especially in a post-MIFID world? 1) working under a II-ranked analyst at a MM whose an MD 2) working under a lesser known and probably worse analyst at a BB whose an ED The sector-attractiveness is roughly ...

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Disclose Misdemeanor DUI Charge prior to Background Check without Prompting?

iamjacksunrelentingego

Caught a misdemeanor DUI charge about a year ago, against which I am still fighting in court with expectations for resolution, one way or the other, by July. I am currently employed and licensed with FINRA. Both organizations, i.e. my current employer and FINRA, are aware of the charges. However,...

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Interning this summer

byNehha

Hi, I'm going to be doing a 2-month internship at a small firm in the Bombay stock exchange starting in May as an equity research analyst and I'm a bit worried about what they expect me to know? I'm taking the CFA Level 1 exam this June and I have a bachelors degree in financial accounting and audit...

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Non-Fiance Major Need Help with Resume!

1234abe

I am a Statistics Major who has taken only one Fiance Related Course (Macro Economics intro Gen Ed.) I was the President of the Investment Club at my Community College and now the Vice President of the Investment Club at the University I transferred to. How do I convey I have Financial knowledge on ...

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Advice on approaching call with ED at BB

kdb

Hi, I am a senior at an Ivy majoring in the sciences. I realized pretty late that I'm not keen on going to medical school and networked with an MD alum at a BB. Because of my non-finance research background and other reasons, I decided that I am interested in ER. The MD generously connected me to an...

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Series 86 Advice

bambambigelow

Taking the series 86 in a couple weeks. Have heard from a few people it can be a challenging test to pass. Any advice from past test takers? Using STC study materials as of now, hoping those are sufficient to pass. Appreciate the help!...

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Starting a career in ER

cf8585

I want to switch careers into ER- in pharmaceuticals or healthcare. I have a PharmD and have been working as a pharmacist. I did an online MBA (not a top business school) with the intentions of getting into the pharma industry. I recently discovered ER and was looking into switching careers. I l...

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Top 50 UK companies on the Buy Side by Fund Size

Shokhrukh_96

I there any source or database that i can search for sell side/buy side firms by country and fund size?...

1
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SeekingAlpha as practice for Equity/Macro Research reports.

MFMS

New user. I'm curious as to what WSO thinks the value of writing up Macroeconomic/Equity Research reports on SeekingAlpha would be? I'm looking at just sharpening my investment thesis creation skills, and possibly using it to provide references for applications for future internships. Thanks for...

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Citigroup Buffalo

nycskibum

Anyone have any information at all in terms of office culture, comp etc etc? Similar to DB Jacksonville or GS SLC? Any chance they move the position into NYC for the right candidate? Have several years of sell-side ER experience in a similar space. Want to make sure Buffalo wouldn't be a dead end...

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Concentration while everyone around is on the phone

Lehman08

Hi everyone, I just moved to the sell side. Ive been having trouble concentrating while everyone else at the office is on the phone talking to clients. Apart from headphones do you have any other tips on how to mind my own business and read while the office is chaotic? Do you just focus on other a...

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How do people get fired in equity research?

Simply-life

Hi I'm about to start working in a BB as a junior associate. I wonder in what ways do juniors usually underperform until they get fired? Appreciate if you can share some observations/experiences so that I can try to avoid the mistakes....

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Need help - Confused whether to use short term investments or short term debt as a balancing figure?

maniea1990

Hey folks, I have to project balance sheet for a company which historically keeps both short-term investments and short-term debt. I am having confusion which of these to use a balancing figure? And should I include short-term debt in working capital?...

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2018 ER Bonuses

bingy

Here we go again Let's keep this pretty simple and straightforward: Bank: BB/MM/EB/etc. Bonus: in USD. Also denote whether or not it's a stub. Base: current and whether or not you got a bump. Years experience: How long have you been doing SS ER ...

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+56
Work/Life Balance: Equity Research vs. Investment Banking - (A Definitive Guide, Part 1)

NoEquityResearch

I'm probably one of the few people on here that has done both IB and ER. So I thought that I would share a guide on the pros/cons of both. A lot of these items have been covered in other posts so I'm going to focus on the nuisance and specific details which others often leave out. I don't want to m...

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+20
Horrible Boss or is this Wall St?

ERWallSt90

Hello Everyone, I'll keep this short and sweet. I took an ER job out of school (after running my own little ER biz). Working on Wall St is great, I'm learning a ton, I put in the hours and I'm on the front lines. Outside of continually getting up to speed, I passed my Series 7/63 within two months ...

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